Labour Utilization and Wage Inflation in Australia: An Empirical Examination

Peter Dawkins and Mark Wooden

The Economic Record, 1985, vol. 61, issue 2, 516-521

Abstract: This paper tests the hypothesis that the level of labour utilization within the firm should be substituted into the Phillips Curve in place of traditional measures of excess demand. Gregory and Smith (1983) proposed overtime hours as a proxy for labour utilization within the firm. For various reasons we prefer the deviation from trend in hours worked. The results support the underlying hypothesis, and add strength to the view that to understand the process of wage inflation at the macro level we must examine the utilization of labour at the micro level of the firm.

Date: 1985
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